Industrial Robotic Arm Market Size, Share, Growth, And Industry Analysis By Type (Articulated Robots, Parallel Robots, SCARA Robots, Cylindrical Robots, Cartesian Robots) By Application (Automotive, Electrical and Electronics, Chemical, Rubber and Plastic, Metal and Machinery, Food, Beverages and Pharmaceuticals, Others) Regional Forecast From 2024 to 2031

Updated On: 29 April 2024

Industrial Robotic Arm Market Report Overview

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The global Industrial Robotic Arm Market size was USD 8004.1 million in 2022 & the market is expected to reach USD 13275 million in 2031, exhibiting a CAGR of 5.8% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with Industrial Robotic Arm Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A robotic arm can carry out all of the same tasks as a human arm. Robotic arms, however, are a more advanced technology and execute tasks more effectively. A computer-controlled robotic arm is attached to a rational manipulator. A mechanical arm that may be programmed to move along an axis or rotate in different directions is referred to as a robotic arm. Hence, a robotic arm is classified according to its axis into 1-axis, 2-axis, 3-axis, 4-axis, 5-axis, 6-axis, and 7-axis. Being a machine, it is built to be more powerful than a human arm. This implies that heavy, repetitive operations may be executed with remarkable accuracy by robotic arms. A robot system utilised in production is known as an industrial robot. They may move on three axes or more and are automated and programmable. It is defined simply as a mechanical, programmable device that is employed in place of a person to accurately carry out risky or repetitive operations. They are made especially for a variety of tasks, including welding, painting, assembling, picking and placing printed circuit boards, palletizing, packing and labelling, and testing and product inspection in the manufacturing sector.

Rising vehicle production, improved cost competitiveness, and wage inflation are the main drivers of this market's expansion overall.

COVID-19 Impact: COVID-19 Outbreak Hindered Market Growth

Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the projection period. In order to assure the inclusion of underlying COVID-19 concerns and potential future directions, our continuous study expands upon our research approach. The paper provides information on COVID-19 taking into account changes in consumer demand and behaviour, buying habits, supply chain rerouting, dynamics of contemporary market forces, and substantial government initiatives.

Latest Trends

"Growth In The Logistics Industry Is Anticipated To Support Market"

Consumers' propensity for making purchases online is assisting the e-commerce industry. The incorporation of automated robotic systems is turning into a top goal for warehouses, distribution facilities, and property owners. Delivering on time, reducing labour costs, and increasing productivity at every stage are the objectives. One of the most crucial factors in the creation of these robots is this. Throughout the whole logistics value chain, several businesses are developing innovative solutions, including self-driving trucks, intelligent warehouses, and service robots.

Industrial Robotic Arm Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Articulated Robots, Parallel Robots, SCARA Robots, Cylindrical Robots, and Cartesian Robots. Articulated Robots is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Automotive, Electrical and Electronics, Chemical, Rubber and Plastic, Metal and Machinery, Food, Beverages and Pharmaceuticals, Others. Automotive will be the dominating segment.

Driving Factors

"Investment Growth Across Industries Is Fueling The Market's Expansion"

In general, sectors including automotive, pharmaceuticals, consumer electronics, packaging, and equipment have a significant need for industrial robots. Yet, this need is based on the type of robot they must install across all of their locations in order to maximise industrial activity and save expenses.

As a result, the company is receiving a substantial investment, which raises the demand for these robots. Nissan Motor, for instance, bought two lines of the UR 10 collaborative robots. Like pharmaceuticals, consumer electronics, and industrial firms, these sectors all have interests in the market, which has aided in its expansion.

"Change In Business Activities Of The Firm, increasing Warehouses And Use Of Modern Technology Propel The Market Growth"

One of the key reasons propelling the growth of the robotic arm market is the increase in business operations due to the pandemic-induced increase in work-from-home. Also, the industry is positively impacted by the integration of cognitive technology and changes to business processes across companies.

The market expansion is accelerated by the rise in warehouse construction in developing nations. The expansion of the market is positively impacted by the rise in demand from the industrial sector. The industry is also being driven forward by the rise of startups offering robotic warehouse automation solutions. Robotic process automation and machine learning are increasingly being used to enhance the capabilities of software bots, which has a further impact on the industry. The use of artificial intelligence (AI) can improve data integrity and provide better business insights.

Also, the market for robotic arms benefits from rising urbanisation, lifestyle changes, an increase in expenditures, and higher consumer spending.

Restraining Factors

"High Initial Investment Expenditures And Maintenance Costs Restrain Market Expansion"

It may be challenging for firms without much or any relevant skills to make the necessary first investment. A significant capital expenditure is required for things like procurement, integration, programming, accessories, and maintenance, and small and medium-sized firms find it challenging to set aside significant quantities of money (ROI).

Industrial Robotic Arm Market Regional Insights

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"APAC Will Rule The Worldwide Market For Classical Industrial Robots During The Duration Of The Projection"

Industrial robot sales decreased in 2018 as a result of the US-China trade war's negative consequences and a decline in demand in the automobile industry in nations like China. The COVID-19 pandemic, which began in late 2019 and continued mostly through Q2 or Q3 of 2020, is now negatively hurting the market growth for conventional industrial robots. The market in APAC is yet anticipated to develop at the greatest CAGR from 2020 to 2025. China and other big APAC market contributors had a sharper slowdown in growth, although their market share is still sizable.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• FANUC (Japan)
• KUKA (Germany)
• ABB
• Yaskawa (Motoman) (Japan)
• Nachi (Japan)
• Kawasaki Robotics (India)
• Comau (Italy)
• EPSON Robots (U.S.)
• Staubli (Switzerland)
• Omron (Adept) (Japan)
• DENSO Robotics (U.S.)
• OTC Daihen (U.S.)
• Panasonic (Japan)
• Shibaura Machine (Japan)
• Mitsubishi Electric (Japan)
• Yamaha (Japan)
• Universal Robots (Denmark)
• Hyundai Robotics (South Korea)
• Robostar (South Korea)
• Star Seiki (India)
• JEL Corporation (Japan)
• Techman (U.K.)
• Siasun (China)
• EFORT Intelligent Equipment (China)
• Estun Automation (China)
• STEP Electric Corporation (China)
• Guangdong Topstar Technology (China)
• Inovance Group (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.